Telus receives approval for $500M 2014 buyback

The Toronto Stock Exchange has signed off on a Telus (TU-1.2%) proposal to buy back $500M worth of shares in 2014. (PR)

The buyback is good for repurchasing 2.6% of the Canadian carrier's shares at current levels. Telus has already bought back $1B worth of shares this year at a weighted average purchase price of $32.07.